bobbyftm

chris955

I agree, it was a ludicrous post.

bobbyftm

Bugger my working from home has it's benefits

chris955

I have to agree, I wouldn't work anywhere else

commonwealth

i'm a city boy with big bold ambitions and an active (salt)water lifestyle.

furbacchione

If you're in your fifties or getting real close I suspect you don't have much to worry about there as you'll be dead by the time it all collapses. If you're younger than that you have a lot to worry about. I think the world, over all, has about 2 "prosperous" business cycles left in the tank and then a 3rd that will be a denial cycle. Then I think there will be a new dark ages ushered in fuelled by debt that will engulf the entire world. So party like it's 2050

commonwealth

by 2050 governments will have taken over businesses and will force people to work so they can continue consuming etc etc

Budawang

Hardly. The Liberals and the mining magnates are dead set against it. Even so, Labor have managed to get a watered down version in place. It's only fair that some of the benefits of the mining boom go to the eastern states as their manufacturing and services industries are being hurt be a high dollar due to the boom in the west. When the mining boom eventually crashes the money will start flowing in the other direction, as it has done many times in the past.

commonwealth

Maybe WA should have its own currency.

Ballys

Great idea, what would we call it ? I know...... The Burke or The Hancock
http://en.wikipedia.org/wiki/Secessi...tern_Australia

commonwealth

the black swan

WestLondonWelshman

http://www.wsws.org/articles/2012/ju...econ-j26.shtml

Outside the mining sector australia's economy is a journeyman one at best. Mining plays a part but when it gets over 105 of a developed nations economy. a 25-40% reduction and theres 4% off the GDP right there. Is everyone really doing so well in australia right now? My wifes family certainly aren't, which is why we're staying put here in London for the time being with good jobs...

Zen10

And if you have children of any age then you have lots to worry about because you don't want unpleasant things to happen to them.

I don't agree with your Dark Ages hypothesis. No one can predict the future with any degree of accuracy because there are too many agencies at work. At the moment, it looks like big changes are on way for the EZ - either voluntary exits by various states or even devaluation to parity with USD. This would assist the collapsing PIIGS and help German exports.

US debt - unrepayable. So what does it do? Inflate it away? All the balancing done by Clinton was pissed away by a senseless and semi-religious determined attempt at global domination by Bush. He has cranked the debt up more than even Reagan managed, only this time Obama has not played Clinton to Bush's Reagan and the economy is just getting worse.

I honestly cannot predict US behaviour at the moment. It has lost the wars in Iraq and Afghanistan, and will fail in its attempt to stop Iran weaponizing its nuclear programme. I know it's just waiting for Assad's regime to collapse in Damascus but after that no idea.

Still, not Dark Ages - remember under the debt there is the same number of human and material resources.

Zen10

The issues is that people like Rinehart who are making $2 million profit an hour object to paying more than 30% tax. If they paid proper tax levels then Australian public services would be like something from the 25th century. Personally, I find Australia's material wealth being dug up and sold to Chinese people for the benefit of a handful of billionaires highly offensive, not to mention bloody irresponsible, but most people won't start the whining and crying about it until it's far too late. If these industries can't be nationalized then at least tax them properly.

Ballys

The Gina...hang on wait a minute, she has so much of it she can have her own currency